Political Quotes

“Just in our closing minutes here, I want to reiterate, first of all, say we have been getting up here for the last several weeks talking about the coming tax increase, unless Congress and the Democratic majority acts, which will occur in 1,398 days, which will be January 1, 2011, and that occurs in 2008, some of the taxes, if they are not extended, will expire, 2009, 2010. Again, we want to hear from citizens around the country that have benefitted by these tax increases, tell us your story about your small business, how it has grown or how you started it. You can get those stories to us at the [email protected]. We want to hear those stories. Again, I want to close with just talking about what's going to happen with the dividend and the capital gains tax cuts if we don't act. January of 2010, those rates will go back up. As I mentioned earlier, when folks think about those dividends, whether you have a mutual fund, you have an IRA, you have a 401(k), you have some pension fund out there. By and large, if not all of them, almost every one of them, is dependent on investments to put income in and pay out to the beneficiaries. Prior to a 2003 tax cut, dividends were subject to an individual tax rate up to 38.6 percent and on top of a corporate tax rate of 35 percent. Those types of rates are coming back unless this Congress and unless this Democratic majority acts.”